It’s officially Autumn and the leaves are falling and the temperatures are dropping. You’re probably wondering what this change in season means for the Real Estate Market in Saskatoon? Is it still a good time to buy or sell your home?

We’re going to share what we think you need to know about the market going into the fall and winter season of 2020.

First, we will quickly review the stats that just came out for the month of September. As we predicted, they continue to trend upwards.

There were 430 sales last month, which is a high number for this time of year. That’s actually 40.7% more sales compared to September of 2019, and 12.2% more sales for the year compared to this time last year. Although you should note, that it’s still less sales than August, where we saw 461 sales. This shows that even though we are seeing a slight decrease in sales due to the fall season, which is typical, we are seeing a much stronger fall market than we did in 2019.

This is also evident when you look at new listings from September. There were 12.8% more new listings this September compared to September of 2019. This indicates to buyers that due to the strong market there are still new listings being posted and there will likely be more in the coming months.

There were 1483 total active listings as of the end of September. This is a much lower inventory than we would typically see in September, where we are normally closer to 2000 or so active listings. This low inventory indicates that we are still generally in a sellers market, especially in the 300K - 550K price range.

So after looking at all of these stats, you’re probably wondering if you should be considering selling your home in the fall or winter market. We want to share a couple reasons why we think selling in the fall and winter can be a great idea.

1) In fall and winter, the buyers that exist in the market tend to be more motivated than they might be in the spring and summer. The colder weather weeds out any maybe-buyers and instead brings in super serious clients who want to close on a property before spring.

We also think that this year will be a bit different than normal as people are unable to travel due to the pandemic. People might get a bit stir crazy, and start looking for a change of scenery in their home.

2) As the weather gets colder the inventory in the market continues to decrease.

Lower inventory = less competition for your listing

Those super serious buyers in the market will have fewer homes to compare against yours making your property more attractive.

In general, we believe that regardless of the season, if your home is priced appropriately and in good condition, interested buyers and potential offers can be expected.

If you’re interested in getting more information, or would like us to provide you with a free evaluation of your home, please contact us and we would be happy to help.

We wanted to share one more piece of good news!

In September, 23% of all real estate transactions in Saskatoon were done by Realty Executives agents. This makes Realty Executives Saskatoon the #1 brokerage in the city! 

We are so proud to be a part of this amazing team, and we want to give a big shout out to Wayne Zuk, our broker/owner who is always there for advice and encouragement and who is one of the main reasons our team is so successful!

We hope you all enjoy your long weekend and have a wonderful Thanksgiving! Stay safe and see you soon!

Why it is important to get preapproved? Is preapproval the same as a ratehold?

Preapproval and ratehold are used interchangeably quite often but they can mean two very different things. It is dependent on how your mortgage broker manages them.
A true preapproval is complete when your income and down payment documents have been reviewed and your credit reviewed.

A ratehold is completed when the application is submitted to the lender. Sometimes, with rateholds, the income and down payment documents have not been reviewed.

Preapprovals with income and down payment documentation, have a much better chance of turning into an approval with the lender. It takes out the majority of the surprises in the deal. Part of our responsibilities as mortgage brokers is to review documents and look for any issues that might arise and to give advice on what is required in the documentation. There are even a few lenders that will actually underwrite the preapprovals which means they will review income and down payment docs upfront.

Being preapproved (correctly) will give you and your realtor the confidence to be looking in the correct range of purchase prices. It will alleviate wasting time looking at price ranges that are too high and reduce the stress at the time the offer has been submitted. Your documents for income and down payment will already have been collected and reviewed by the broker (and even perhaps the lender).

If you have been told that you have been preapproved but you have not provided any documents (income or down payment), then you need to ask what you need to provide in order to be confident that your income and down payment will be accepted.

If you need additional information on this topic, please feel free to reach out to me at 306.222.7900 or debm@mortgagegroup.com

Thinking of selling? In today’s complex market, selling your home requires knowledge of the local market, experience to know what works, and lots of creativity and enthusiasm. Here’s a look at what you can expect from Tait Real Estate when you list with us.

At Tait Real Estate, we have a 10-step real estate listing marketing plan.

1. Professional Photography
2. MLS Listing & Realty Executives Exposure
3. Open Houses
4. Social Media Paid ads
5. Website Featured Listing
6. Blog
7. Video Marketing
8. Email Marketing
9. Professional print materials
10. Kijiji Ads and point2 syndication

1) Professional Photography

If we know one thing, it's that professional photography is incredibly important! That's why we always include listing photography by a professional real estate photographer to highlight all of the wonderful features of your home. Professional photos will get your home sold faster and for a better price, every time.

2) MLS Listing & Realty Executives International

The MLS is the most comprehensive source for up-to-date local real estate information. Once your home is listed on the MLS, its details, specs, and photos are disseminated nationally, even worldwide. Only a licensed REALTOR can add your listing to the MLS.

Realty Executives is a name that is trusted worldwide. With thousands of agents world wide, you’ll be plugged in to our exclusive network of professionals, properties and potential home buyers. By reaching more people, more often we’ll bring more buyers to your door to improve your chances of not only selling your home quickly, but for the best possible price.

3) Open Houses

We believe open houses are an important part of an overall marketing campaign to attract buyers. As a result of our online marketing, buyers flock to our open houses. We will hold an open house at your property when it is possible and convenient for you.

4) Social Media 

Social media sites get millions of visits per day which is why they are such a powerful real estate tool. We've worked hard to build an active, engaged audience on Facebook, Instagram, Google and LinkedIn. Included in our service is the creation of effective and engaging paid ads for each of our listings.

Instagram: @taitrealestate
Facebook: @taitrealestate.ca
Linkedin: Tait Real Estate - Realty Executives Saskatoon

5) Website Featured Listing

Our extensive marketing sends hundreds of visitors to our custom designed website, www.taitrealestate.ca every day. It is the perfect place for us to professionally market your property. Your listing will be included in our featured listings section on the homepage of the website.

Click HERE to check out our current featured listings.

6) Blog

The popular Tait Real Estate Blog helps draw people to our website. Potential buyers follow our blog to learn about Saskatoon and area real estate news and to get inside information on the newest properties on the market. We will post a blog about your home to help make sure it gets noticed.

7) Video Marketing 

Video can help buyers visualize themselves in your home. Tait Real Estate has a popular YouTube channel with various types of video content including, home tips, new listings and their weekly Thirsty Thursday episodes. Arranging and creating custom video content is just another service that sets Tait Real Estate apart from the competition.

Click HERE to check out our YouTube Channel.

8) Email Marketing

Each month, Tait Real Estate sends out a market update newsletter to hundreds of email contacts. Your listing will be included prominently in our featured listings section of the newsletter.

Click HERE to view the most recent newsletter.

9) Professional Print Materials

Most people are visual in nature. Having an attractive, photo-heavy brochure or flyer they can hold in their hands after they tour your property, may just remind them what they loved about your house. The Tait Real Estate team has a professional marketer and graphic designer on their team who will create professional print materials to market your home.

10) Kijiji Ads and Point2 Syndication

Some buyers are looking for homes on various online websites like Point2 Homes and Kijiji. We post your listing on Kijiji and the Point2 Syndication to make sure your home gets the most exposure possible.